Sensex up 314 points, touches new high
A benchmark index of the Indian equities markets Monday touched a new high of 22,074.34 points, and closed 313.52 points up at 22,068.84 points.
This record surpassed the previous high of 22,040.72 of March 18.
The 30-scrip S&P Sensex (sensitive index) of the Bombay Stock Exchange (BSE), which opened at 21,827.50 points, (provisionally) closed at 22,068.84 points, up 313.52 points or 1.44 percent from the previous day's close at 21,755.32 points.
The Sensex touched a high of 22,074.34 points and a low of 21,827.50 points during the trade so far.
The rally was led by bank, oil and gas and automobile stocks.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading flat after it made healthy gains in the pre-noon session.
The 50-scrip Nifty was, however, trading flat - down 87.10 points or 1.34 percent at 6,582.00 points.
Sustained FII (Foreign Institutional Investor) flows, and expectation that the Reserve Bank of India (RBI) will keep the key interest rates intact in its next monetary review meeting on April 1 led the markets to the new record high.
Sector-wise, the S&P BSE Bank index went was up 387.22 points, automobile index was up 136.48 points and oil and gas index gained 102.31 points.
However, S&P BSE Information technology (IT) index went 60.68 points down and the capital goods index fell 66.82 points.
(Posted on 24-03-2014)